FAQ's for Eagle Commercial Funding Solutions, LLC (Eagle):
Why should I use Eagle instead of my local bank?
Eagle is the smart choice for business owners and other professionals turned down by banks and other lenders. We offer immediate solutions to tough commercial mortgage problems. We simplify complex financial problems.
Fast - Flexible - Fewer hoops
No tax returns, YTD profit & loss statements or balance sheets required.
No income verification or pay stubs.
No minimum credit scores
No upfront fees
No lengthy approval process
No minimum debt service requirements
No past lending relationship required.
No maximum number of properties owned
We solve tax liens, judgements, foreclosure, bankruptcy, workouts, discounted payoffs and imminent sheriff sale problems.
We don't ask for money upfront. If we can help, we'll do so quickly. If we can't we'll tell you why. We are paid a success fee when your loan is funded.
We often say yes when others say no...
Is Eagle a Direct Lender?
No. Eagle is a national clearing house for alternative commercial financing. We represent several hundred non-bank lenders nationwide who obtain funds from the Wall Street, parent banks, pension plans, hedge funds, insurance companies, parent banks and private investors. This permits them to take more risk and provide financing for those turned down by banks and other lenders.
What types of commercial loans do you offer?
- Commercial mortgages for investor and owner occupied business properties (purchase, refinance and cash out)
- Apartment loans
- Bridge loans
- "Soft" hard money loans
- Fix and Flip loans
- Construction, development, rehab and fix & flip loans
Can Eagle review my current loan?
Eagle can review your current commercial mortgage loans and developing an action plan that best suits your needs. Whether you are the lender or the investor, our staff is ready to help. In times like these, many loans are upside down and it is important not to waste time wondering where you stand.
What qualifies as commercial real estate loans?
- Multifamily
- Non-owner occupied 1-4 unit investment properties
- Retail
- Office
- Warehouse
- Industrial
- Self-storage
- Improved land
- Mixed use
- Automotive
- Hotels / motels
- Free standing commercial
- Agriculture based
- Development, construction, rehab and fix & flip
- Other property types
Can I get a 1-4 Unit Family Loan?
Yes, provided the property is a non-owner occupied investment property.
Do you fund property rehabs and fix & flips?
Yes. These loans typically fund 80% of the purchase price plus 100% of rehab up to 70% of ARV (after repaired value).
Where does Eagle offer commercial loans?
Eagle offers commercial loans nationwide (except: California, Illinois, Arizona, North Dakota, South Dakota, Nebraska and Nevada).
How much can I borrow?
Eagle offers loans from $500,000 to $100 Million ($150,000+ for Fix & Flips)
Are income tax returns required?
No.
Will you work with me if I have bad credit?
Yes. If your commercial property has sufficient equity and/or net cash flow, we can arrange financing.
When does it make sense for a real estate investor to use a “soft” hard money loan?
A commercial property investor who needs funds quickly can benefit from a “soft” hard money loan. For example, an investor who recently purchased a commercial building may need funds to restore it or to quickly pull out cash. “Soft” hard money loans are great for property owners who don’t qualify for conventional loans or who have urgent needs that require an immediate solution.
How much money can I borrow?
Eagle offers loans from $500,000 to $100 Million ($150,000+ for Fix & Flips)
What information is needed to begin the loan process?
The easiest way to begin the process is to fill out our online application or call us. Our experienced team will help you from approval through underwriting to a successful funding.
How much down payment do I need for a commercial mortgage?
Usually, the magical number is 10% to 30%.
What rates and terms does Eagle offer?
Eagle offers the industry’s top commercial loan products. Management is constantly searching, interviewing lending sources and extrapolating the best products to offer to our clients and referral network. These relationships with capital sources benefit our commercial clients by offering competitive rates, better terms and a diverse menu of financing options.
Are fixed and variable interest rates available?
Yes.
How much will my loan cost?
Eagle never charges its fees upfront. We are paid our success fee when your loan is funded. Once your loan is approved, you will receive a term sheet that details all loan costs, third party reports (appraisals, environmental, title etc,), terms, interest rates, amortization, points etc.). After you approve the terms, the lender will require that you pay the appraisal fee etc. Often most costs and fees are paid at closing.
Are their prepayment penalties?
Varies depending on type of loan.
How long will it take to close my loan?
Loans typically are funded in 30-60 days. Urgent loans that require immediate solutions can close in 10 to 30 days. Quickly returning required documents speeds up the process.
Can Eagle provide financing for non US citizens?
This is evaluated on a case-by-case basis, but we have been able to structure this for foreign national clientele. Due to the increasing number of foreign investors, this product is becoming increasingly more available but with certain restrictions and limitations.
Does Eagle work with commercial loan brokers, realtors, bankers, lenders, residential mortgage brokers, attorneys, CPA’s and other financial professionals?
Yes. Eagle is “broker-friendly”. We value the hundreds referral partners in our network. We gladly pay referral fees and protect brokers and other referral partners. The process is simple: We get a broker fee agreement signed along with a w-9. At the end of the transaction, payment is made from Eagle to the cooperating broker or other referral partner.
